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Jan 14, 2013
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but this is a weird one because this tax works the opposite of many other taxes in that it only taxes you up to $113,000 of income. above that, you don't have to pay the social security piece of the fica tax. it hits those people at the bottom on a percentage basis more than other taxes do. that's why people are having a little bit after head scratcher here, trying to figure out what the impact is, sue. >> yeah, eamon, no one is happy about it. and jane has that story live for from burbank, jane? >> reporter: hi, sue. in california, it is a double-whammy. not only are people seeing higher taxes but in california there are is a higher sales tax twb there is higher federal income tax and state as well. but this is l.a., a blue city and blue state and people are used to ponying up. >> have you gotten paid yet this month. >> reporter: yes, i have. >> did you notice your paycheck was smaller? >> i did. >> reporter: how did you feel about that? >> on one hand, we know why it is being done in the sense that we need to find a way of getting the deficit down. you but on the other hand, no, bec
but this is a weird one because this tax works the opposite of many other taxes in that it only taxes you up to $113,000 of income. above that, you don't have to pay the social security piece of the fica tax. it hits those people at the bottom on a percentage basis more than other taxes do. that's why people are having a little bit after head scratcher here, trying to figure out what the impact is, sue. >> yeah, eamon, no one is happy about it. and jane has that story live for from...
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Jan 15, 2013
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the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary ch
the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do...
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Jan 16, 2013
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tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big booyah to you from california. can you tell me about anteras pharmaceutical. ants. >> the injectables, very competitive. not a believe every or buyer of that particular industry, not that crazy on the stock. >>> let's go to drew in california. >> caller: dr. cramer, l.a. king stanley cup champ ba ba booyah to you. >> what's up? >> caller: thank you for getting be mac me back in the game in 2012. chesapeake, chk. >> a hard one to own frankly. i'll tell you why. my trust owns southwestern energy, which i think the ceo will tell you, a darn good company. natural gas prices won't go up i feel. and i worry about the
tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big...
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Jan 15, 2013
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he also made sure to include that he wants more taxes. more taxes. obama care taxes are already kicking in. we just had a tax increase on investors and small businesses. can you beat that, more taxes? >> this should come as a surprise to nobody, larry. obama's goal is not some sound economy when he -- as his legacy, his goal is as to fundamentally transform america where we have a vastly expanded size of government. he won't talk about cuts except little ones on the side. but he wants to continue to expand government. he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president doesn't get to decide, you know, how much we're spending
he also made sure to include that he wants more taxes. more taxes. obama care taxes are already kicking in. we just had a tax increase on investors and small businesses. can you beat that, more taxes? >> this should come as a surprise to nobody, larry. obama's goal is not some sound economy when he -- as his legacy, his goal is as to fundamentally transform america where we have a vastly expanded size of government. he won't talk about cuts except little ones on the side. but he wants to...
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Jan 17, 2013
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end of the payroll tax cut holiday. something dragging down on retailers, and higher payroll taxes disproportionately hit low and middle income consumers. customers make 40,000 a year or less. end of the payroll tax holiday, means a household will have to pay $800 to $1,000 in taxes that they won't be able to spend at the general. these families will have to tighten their belts. since they are more likely to shop at family dollar or dollar general than saks, that's bad news. the debt ceiling fiasco, and the negotiation of the budget sequester, we could see actual cuts to entitlement programs in the next few months, at least there will be tons of chatter in the media about it. i don't think either the republicans or the democrats have the guts to cut entitlements. what does this have to do with the dollar stores? you cut program that help people who shop at dollar stores, you hurt these stocks. the low-ends retail environment is getting more competitive. they have to become more promotional, code for more discounts. in o
end of the payroll tax cut holiday. something dragging down on retailers, and higher payroll taxes disproportionately hit low and middle income consumers. customers make 40,000 a year or less. end of the payroll tax holiday, means a household will have to pay $800 to $1,000 in taxes that they won't be able to spend at the general. these families will have to tighten their belts. since they are more likely to shop at family dollar or dollar general than saks, that's bad news. the debt ceiling...
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Jan 15, 2013
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when we pay our gasoline tax, we spend that money to the federal government. they skim off management fee and then they dole it out all over again to things like a museum dedicated to the packer, a movie about movies about the road for alaska, things like that. airport money, we spend all of this, there's a tax in all of our tickets, and yet all that money goes into a big pile and the vast majority of it does not go to the biggest airports in the country. it goes to the ones that are the most politically connected. you really have to disengage congress and get more private money going directly where they can actually make a profit and you'll get more infrastructure. >> yeah, but donna, i mean, president obama signed the recovery act and spend billions on infrastructure project. did we get our money's worth? what did that money goes toward? >> well, first let me say, we do need some more money. yes, some airports can be built privately, and there's no question we're spending the money in the wrong places, but even if we took all the money going to highways, lik
when we pay our gasoline tax, we spend that money to the federal government. they skim off management fee and then they dole it out all over again to things like a museum dedicated to the packer, a movie about movies about the road for alaska, things like that. airport money, we spend all of this, there's a tax in all of our tickets, and yet all that money goes into a big pile and the vast majority of it does not go to the biggest airports in the country. it goes to the ones that are the most...
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Jan 17, 2013
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but they also got a tax benefit, the tax rate was 23% versus the expected 27%. and then their guidance, they guided to a midpoint, intel, of $12.7 billion when the street was looking for $12.9 billion. the pc client group, one of the groups i pointed to as being important in advance of the earnings, that was down 6% year of year revenue wise to $8.5 billion. it was $8.6 billion a quarter ago. but you know, there's some other things that are questions. mainly, of course, what intel's plan is for mobility. they talked about design wins but we really haven't seen them take on folks like qualcomm in a meaningful way yet. they need to do that, part of doing that will be getting lte built into their chip solution, so, that's going to be one of the questions analysts will have. gross margins holding up relatively well at 58%, which is down from a year ago, but they are guiding to 60% gross margin for fiscal 2013. >> jon, thank you. he will fill us in with that conference call. dr. j, you are been looking at these, first of all, the earnings came out early. we don't kno
but they also got a tax benefit, the tax rate was 23% versus the expected 27%. and then their guidance, they guided to a midpoint, intel, of $12.7 billion when the street was looking for $12.9 billion. the pc client group, one of the groups i pointed to as being important in advance of the earnings, that was down 6% year of year revenue wise to $8.5 billion. it was $8.6 billion a quarter ago. but you know, there's some other things that are questions. mainly, of course, what intel's plan is for...
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Jan 16, 2013
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you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look, we're spending 24 percent of gdp and we're taking in 16%. we've got a spending problem. part of the spending problem is the recession that we've been in. the thing you've got to remember all of this has to be designed to get strong economic growth. the goal is not to cut spending or deal with the deficit. those are vehicles to get to the main goal getting the economy to grow at a faster rate. >> it is possible for someone to look at what he thinks government should provide for its citizens and it is possible to believe that 25% of gdp should be spent on government services. it is possible that he believes that
you need tax reform, in my view, corporate pad taxes are too high in the competitive world we're in. get those issues in front of them and then deal with the spending issues, which primarily are in medicare-medicaid and some of the other domestic -- >> how should people feel when they read this john boehner interview where he said the president said, we don't have a spending problem. how should people feel about that? >> if he said that, there's no way to agree with that. look,...
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Jan 17, 2013
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whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the board is even getting excited. but debt and stimulus are the same. it just depends on which side of the check you're on. the 1.2 trillion every year in debt is basically a stimulus. so why is it so shock or why is it that to stop increasing debt that once you do the numbers go down? you know what it's like? you remember those old cars in the old days. you had stick shift. your battery was dead you pushed it to get it going. say you have to pay your buddies 20 bucks to get a push. if after 50 pushes it doesn't start maybe th
whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the...
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Jan 18, 2013
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cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on. >> she's very teed up on that. and reading some of the stuff that abe is getting accomplished, it is different. i mean they're going to do -- they're going to -- >> they're going to out-fed the fed. >> exactly. and you know, they haven't had -- do you remember the last time they've had 2% inflation? >> twice in the last two decades. briefly. one on the back of a tax increase. >> just really brief. >> they've flirted with 2% and that's come back -- >> you think they can orchestrate that? >> i'm dubious for now. but if you have a better u.s., a quiet
cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on....
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Jan 16, 2013
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you'll pay a big tax. well, apparently the repatriation is a lot more doable than they're being given credit for. i don't know exactly what that means, we'll bring it back once we do the lbo. the big question is why current management considered buying back stocks. there's a special committee here, of course. we'll see whether they can get to a price that every side agrees on and that shareholders will approve. >> yesterday, most of the day was spent pooh-poohing this deal. because of the repatriation. because of the equity check. >> it seemed to be insurmountable because the club deals are frowned upon at this point. >> then i want to ask you whether this is some sort of sea change. because this is obviously a much smaller check. yesterday we said it would be $8 billion. >> no, $4 billion to $5 billion. >> what i'm saying is, this is a rival departure from what we've seen from the little money put up. >> given the size of the hlbo - >> top line doesn't matter. this company's bottom line is larger than the
you'll pay a big tax. well, apparently the repatriation is a lot more doable than they're being given credit for. i don't know exactly what that means, we'll bring it back once we do the lbo. the big question is why current management considered buying back stocks. there's a special committee here, of course. we'll see whether they can get to a price that every side agrees on and that shareholders will approve. >> yesterday, most of the day was spent pooh-poohing this deal. because of the...
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Jan 18, 2013
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it's really sort of taxed the entire hospital system. we have patients in our emergency room, have crowded a lot of patients in the emergency room. we've used a lot of techniques to accommodate the influx of patients we've seen. >> are you seeing at least at press, are other hospitals, those extraordinary measures that some have taken, are they beginning to pull back a bit? >> we're not pulling back yet. as i said, we've seen a slight decline in the last couple days. but we want to make sure it actually starts falling considerably before we pull back. we've got additional staff on board. we've opened up additional units in order to take care of these patients. we've created new protocols in our emergency room to tri to triage them so make sure they're not mixing with the other patients. those policies will still be in place for the next couple weeks likely. >> in kitchens, and offices around the country, people are still talking about whether to get a vaccination, right? >> yes. >> they can start as early as october. if you haven't gotte
it's really sort of taxed the entire hospital system. we have patients in our emergency room, have crowded a lot of patients in the emergency room. we've used a lot of techniques to accommodate the influx of patients we've seen. >> are you seeing at least at press, are other hospitals, those extraordinary measures that some have taken, are they beginning to pull back a bit? >> we're not pulling back yet. as i said, we've seen a slight decline in the last couple days. but we want to...
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Jan 19, 2013
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indicted on 21 charges of federal corruption, including bribery, money laundering, fraud, filing false tax returns. nagin was mayor of new orleans during 2005's hurricane katrina and the aftermath and prosecutors say he used his office for personal gain and accepted payoffs, free trips, and thousands of dollars in bribes. >>> hey, the dow and the s&p 500 ended the week at their highest levels in five years. now, the finish closed out a trade week that saw strong quarterly earnings from reports from major banks. markets also seemed to react positively to signs that the debt ceiling debate could be pushed back a bit. trading resumes on tuesday after the martin luther king jr. holiday. >>> let's turn to the inauguration now. former president bush 41 and 43 were, of course, invited, but they won't be there this time. the elder bush is recovering from a month-long hospital stay after being treated for bronchitis. you remember that. a spokesperson for bush 43 says the former president and his wife, laura, wish the obamas, quote, all the best for a wonderful inaugural weekend. both former preside
indicted on 21 charges of federal corruption, including bribery, money laundering, fraud, filing false tax returns. nagin was mayor of new orleans during 2005's hurricane katrina and the aftermath and prosecutors say he used his office for personal gain and accepted payoffs, free trips, and thousands of dollars in bribes. >>> hey, the dow and the s&p 500 ended the week at their highest levels in five years. now, the finish closed out a trade week that saw strong quarterly earnings...
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Jan 20, 2013
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in the heart of the south we still had literacy tests, people were asked to pay a poll tax. count the jelly beans in the jar. we want people to learn, so many young members of congress have been elected and they have commented. they don't have a sense of history. they need to be able to walk in the footsteps of another generation. >> would dr. king look down on this day and say i'm proud of where the country is or would he say what a distance the country still has to go. >> i don't know whether we would agree on this. but i think he would challenge us about the distance we have yet to go. and to do innovative things, you mentioned the programs and things of bringing people back to the south. we have established the medgar evers institute with the hope that reaching out into colleges and high schools all across the country, that people will learn about that time and find ways in which they can strategize to move us forward technologically, anyway. >> so that's -- >> i would say dr. king would be very proud and very pleased at the distance we have come. but i agree, we would s
in the heart of the south we still had literacy tests, people were asked to pay a poll tax. count the jelly beans in the jar. we want people to learn, so many young members of congress have been elected and they have commented. they don't have a sense of history. they need to be able to walk in the footsteps of another generation. >> would dr. king look down on this day and say i'm proud of where the country is or would he say what a distance the country still has to go. >> i don't...
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Jan 19, 2013
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he's accused soft money laundering and bribery and tax and wire fraud. prosecutors say nagin's family members received a vacation in hawaii, first class airfare to jamaica, private jet, a limo cost more than $23,000 as part of these alleged bribes. >>> let's head back to washington now. randi kaye is live this morning at the national mall, ahead of president obama's inauguration. randi, i know that there have to be some heaters out there, some blankets, something! >> oh, yeah. we have quite the setup out here. it's pretty warm, and you can't see it, but i'll hold it up a little bit for you, i actually have a heated blanket on top of me. so they're taking very, very good care of us out here. we'll be out here all morning. the party certainly just getting started here. but then again, there's four years to look forward to. so what issues will define the president's second term? we will take a closer look. >>> but first, all morning long, we'll be taking a look back at past inaugurations. ronald reagan's second inauguration remains the coldest on record and
he's accused soft money laundering and bribery and tax and wire fraud. prosecutors say nagin's family members received a vacation in hawaii, first class airfare to jamaica, private jet, a limo cost more than $23,000 as part of these alleged bribes. >>> let's head back to washington now. randi kaye is live this morning at the national mall, ahead of president obama's inauguration. randi, i know that there have to be some heaters out there, some blankets, something! >> oh, yeah. we...
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Jan 19, 2013
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jobs, tax reform, unstable middle east, just to name a few. tonight at 8:00 pm eastern time, fareed zakaria will get solutions from top political experts in memo to the president. inaugurations have come in every shape and size from roosevelt to bush. another roosevelt to another bush. we'll look back at all the top moments. >>> but first a question for all the political junkies, tuned in and watching this morning. what month has had the most presidential inaugurations? no cheating. don't go to google. if you do know the answer tweet me at randi kaye at cnn. oh! progress-oh! -oh! -oh! oh! oh! ♪ what do you know? oh! ♪ bacon? -oh! -oh! oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your story for a chance to win a progress-oh! makeover in hollywood. go to facebook.com/progresso to enter. i got this snapshot thing from progressive, plugged it into my car, and got a discount just for being the good driver i've always been. i'm just out here
jobs, tax reform, unstable middle east, just to name a few. tonight at 8:00 pm eastern time, fareed zakaria will get solutions from top political experts in memo to the president. inaugurations have come in every shape and size from roosevelt to bush. another roosevelt to another bush. we'll look back at all the top moments. >>> but first a question for all the political junkies, tuned in and watching this morning. what month has had the most presidential inaugurations? no cheating....
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Jan 18, 2013
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ready to play ball, he was going to validate their years of investigation and their millions of federal tax dollars that were spent to build a case against him and he also wanted to be able to rebuild his public image. yet he did neither of those things, he challenged the heart of the anti-doping agency's report was that he actually led and facilitated the use on his cycling team. then the second part of that was even worse because he admitted to bullying, he seemed callous, he seemed rep tillian. it was the sort of thing where anybody who tuned in because they wanted to see contrition, remorse, i don't think people should have to do the contrition cabuki theater, but you don't call up oprah winfrey to do an interview unless you're going to do the oprah winfrey interview. >> does he stand a chance in your mind of ever rehabilitating himself, his image or his career in the sports world? >> let's take the competition piece, you saw it has a lifetime ban on him. the condition for that being removed is him testifying under oath to usada and being willing to name corrupt officials or corrupt cyc
ready to play ball, he was going to validate their years of investigation and their millions of federal tax dollars that were spent to build a case against him and he also wanted to be able to rebuild his public image. yet he did neither of those things, he challenged the heart of the anti-doping agency's report was that he actually led and facilitated the use on his cycling team. then the second part of that was even worse because he admitted to bullying, he seemed callous, he seemed rep...
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Jan 19, 2013
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but there's a road to citizenship that you are able to go on if you pay your back taxes, if you have a criminal investigation, you find out there's no crimes, no serious crimes. and you get at the end of the line. but there has to be a path. three, we've got to have family unity as a central core of any policy. you can't deport the parents and leave their 5 million kids here. there are 2 million dreamers. so those are some of the elements of wa we talked about, and i know that the president supports those core elements. we expect there will be bipartisan support for that, as well. >> can you give us a sense of the timing on this? when will we see these plans. >> it's going to depend on the congress, as well. i expect in the next month you'll see these proposals, certainly already, senator mccain and graham and in len dez and others are working together to come up with a comprehensive package. remember, there's been some movement from the republicans as a result of the election. i think they're going to want do it on a bipartisan basis. >> go back to guns for a minute. you listed thin
but there's a road to citizenship that you are able to go on if you pay your back taxes, if you have a criminal investigation, you find out there's no crimes, no serious crimes. and you get at the end of the line. but there has to be a path. three, we've got to have family unity as a central core of any policy. you can't deport the parents and leave their 5 million kids here. there are 2 million dreamers. so those are some of the elements of wa we talked about, and i know that the president...
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Jan 19, 2013
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he has made the tax code more progressive. i don't think anybody quite knows what we can do to get those millions of middle class jobs with wage gains that we need. it's a really, really pressing question for this economy. >> when people are living paycheck to paycheck who weren't ten years ago, that still becomes a problem even if you have health care and some of these other things. john, we are in the throes of partisanship in washington. even the president is pointing fingers. >> we are poised for a good year if we make smart decisions and sound investments. and as long as washington politics don't get in the way of america's progress. >> what breaks that juggernaut? can it get worse than this or -- please tell me this has got to be the bottom. >> every time we've said that it can't possibly get any worse in washington, it magically somehow gets worse in washington. we are in a surreal situation where right now probably the biggest impediment to america's recovery is the u.s. congress. if we have another downgrade, which is
he has made the tax code more progressive. i don't think anybody quite knows what we can do to get those millions of middle class jobs with wage gains that we need. it's a really, really pressing question for this economy. >> when people are living paycheck to paycheck who weren't ten years ago, that still becomes a problem even if you have health care and some of these other things. john, we are in the throes of partisanship in washington. even the president is pointing fingers. >>...
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Jan 16, 2013
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we have a whole tax code that helps states like new york that have higher taxes because they can take it off of their federal income taxes. that has to be part of that, as well. i think we need to help those in need is something we should be doing but if you are not going to spend 80% of the dollars for two years what's the rush? why hurry? get to the direct needs now and that's what i think is important and that's why i offered a transparency amendment that says let's see where the money is going. fema needs reform. we should be reformed it the last two years, a decade ago, after katrina problems and hopefully we can make progress when we do that. >> thank you very much. we appreciate your time. >>> still to come, france has sent more troops in to mali to fight the war there and the united states promises to help. what is help going to mean for american troops? >>> plus an "outfront" investigation, birth tourism. paying women big money to come to the united states and give birth to new american citizens. >>> and president obama goes it alone on gun control. one senator compares the p
we have a whole tax code that helps states like new york that have higher taxes because they can take it off of their federal income taxes. that has to be part of that, as well. i think we need to help those in need is something we should be doing but if you are not going to spend 80% of the dollars for two years what's the rush? why hurry? get to the direct needs now and that's what i think is important and that's why i offered a transparency amendment that says let's see where the money is...
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Jan 16, 2013
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we got a whole tax code that actually helps states like new york that have higher taxes because they can take that off their federal income taxes. that has to be part of that as well. but i think we need to do -- certainly helping those in need is probably something we should be doing but if you're not going to spend 80% of the dollars for two years, what's the rush? let's get to the direct needs right now and that's what i think's important. that's why i offered transparency amendment that said let's go see where this money is going. that went on there. i think that's important. fema needs reform. we should have reformed it the last two years. they should have reformed it a decade ago, after the katrina problems. hopefully we can make some progress when we do that. >> thank you very much. we appreciate your time tonight. >>> still to come, france has sent more troops into mali to fight the war there and the united states promises to help. but what is help really going the mean for american troops? >>> plus, an "outfront" investigation. birth tourism. paying women big money to come t
we got a whole tax code that actually helps states like new york that have higher taxes because they can take that off their federal income taxes. that has to be part of that as well. but i think we need to do -- certainly helping those in need is probably something we should be doing but if you're not going to spend 80% of the dollars for two years, what's the rush? let's get to the direct needs right now and that's what i think's important. that's why i offered transparency amendment that...
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he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far off the table that i don't even hear them talking about tax reform anymore. the president is making a gamble here, that the public will see the republicans as irresponsible and absurd, as he called them, that you can't let the united states of america default, that's not who we are, and that the american public will be embarrassed by this fight. the republicans are making the calculation, you know what, the public is going to be on our side, because we have to get on a path of fiscal sustainability over the long term so they're going to be with us, they're going to want spending cuts. >> we've been measuring the political pressure on the speaker as it builds, it seems, to a big climax here. how much pressure is he in right now? >> huge amount of pressure. don't forget, he didn't have a great time in the fiscal cliff fight. he couldn't bring a majority of his own caucus to vote for that final proposal. this time, his own caucus has put him on notice. a, don'
he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far off the table that i don't even hear them talking about tax reform anymore. the president is making a gamble here, that the public will see the republicans as irresponsible and absurd, as he called them, that you can't let the united states of america default, that's not who we are, and that the american public will be embarrassed by this fight. the republicans are making the...
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first of all, it draws more attention in russia to putin's 13% flat tax. i mean, that is a very low tax in a country where inequality of income is just gigantic. right up there with america's inequality of income. there is a lot of resentment among ordinary russians are paying only 13%. another side potential consequence. putin, russia is turning east. it's turning away from europe and that's the subject of a much longer discussion. but, putin, russia's two main allies in europe have been germany and france. the german relationship has soured. the french relationship has not soured. but if this goes down, this act or stunt of taking russia, by the way, he's not going to live in russia. he just took the passport. but if this goes down badly in france, for any reason, it will further fray russia's ties with the west and russia's turn to the east. that's not good for any of us, i think. >> stephen cohen william browder, thank you for joining us. >>> why in the world would the country's with the greatest oil reserves in for a year of complete upheaval. it's no
first of all, it draws more attention in russia to putin's 13% flat tax. i mean, that is a very low tax in a country where inequality of income is just gigantic. right up there with america's inequality of income. there is a lot of resentment among ordinary russians are paying only 13%. another side potential consequence. putin, russia is turning east. it's turning away from europe and that's the subject of a much longer discussion. but, putin, russia's two main allies in europe have been...
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what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. >> joining me now, john king, john king, welcome, welcome. help me understand what exactly the president is saying. is he saying he absolutely will not negotiate with congress when it comes to the debt ceiling? and to point out, i had ben stein on, an economist. he said, brooke, saying not negotiating is a negotiating tact tactic. >> ben is correct in that regard. what the president is saying, he's not going to repeat two years ago. he did get involved in detailed negotiations and the president, in that same news conference, said if the republicans feel they have to have some package of spending cuts to go with raising the debt ceiling, then let them put their own plan together and see if they can get the votes in congress. he's not going to help them. he said he was not going to let the republicans put a gun to the head of the american people, or he was not going to let them attach a ransom. the president used tough language today and part of what he was saying is i wo
what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. >> joining me now, john king, john king, welcome, welcome. help me understand what exactly the president is saying. is he saying he absolutely will not negotiate with congress when it comes to the debt ceiling? and to point out, i had ben stein on, an economist. he said, brooke, saying not negotiating is a negotiating tact tactic. >> ben is correct in that regard. what the president is saying,...
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Jan 16, 2013
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higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day he'll be able to retire his dad's debt clock. >> i'm an optimist. we would have a very big party. >> reporter: alison kosik, cnn, new york. >>> speaking of money, if you're looking for that job that really pays, you probably want to get a college degree or pick up a second degree. that is right. ali velshi and christine romans take a look at the careers and the schools that can help you get ahead. >> thanks. okay. so when christine and i were in college, the idea was to study kind of whatever you -- those were in the days before cable -- study whatever you wanted and the world was your oyster if you got a university degree. if you had to go back and make a choice today about wh
higher taxes on households making above $450,000 and other tax increases will raise an additional $600 billion in revenue by 2022. but that's not enough. and as democrats and republicans gear up over the next few months to debate spending cuts, debt limits and the federal budget, there still is not a credible plan out there that puts a serious dent in the debt. but douglas durst still holds out hope that one day he'll be able to retire his dad's debt clock. >> i'm an optimist. we would...
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Jan 15, 2013
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state legislators are saying, let's put excise taxes on. and they feel they have to do something. >> obesity rates are on the increase, soda consumption is on the decrease. i was talking to sanjay gupta, he said overall we're just eating more. but, look, coke is doing pretty well. i read a quote where you were saying the soda industry is under siege, but reading -- what was a reading, business week, business week says coke raked in $48 billion in profits last year and they're thinking it will be $50 billion this year. do you think they're under the attack. they seem to be doing pretty well. >> well, they may be doing pretty well, but they're doing much better overseas than they are in the united states. and -- but they see a decaying business. all the criticism is repositioning soft drinks from fun and happiness to disease and death. that's not a good place for industry to be. >> so what do you want from coke? because obviously they want to make money. they sell all kinds of things. short of stopping selling these sugary drinks, is there an
state legislators are saying, let's put excise taxes on. and they feel they have to do something. >> obesity rates are on the increase, soda consumption is on the decrease. i was talking to sanjay gupta, he said overall we're just eating more. but, look, coke is doing pretty well. i read a quote where you were saying the soda industry is under siege, but reading -- what was a reading, business week, business week says coke raked in $48 billion in profits last year and they're thinking it...
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. >>> a northern california man facing a $14,000 property tax bill, paid his tab in rolls of coin. stacks of dollar bills. larry casper said he tried to pay half his bill weeks ago but the county would only accept payment in full. so he asked family to empty out their piggie banks. every year at this time, this becomes the park city, utah sundance film festival. sundance traditionally a mecca for independent films. some 50,000 people expected to descend on the town over the next ten days. next week you guys are traveling to sundance, right? >> i'm heading to sundance. i'll be part of those 50,000 people. it's my first time at sundance. >> you are so fabulous, aren't you? >> yes, yes, i'm trying to figure out what to wear. if you have advice, let me know. >> you'll look glamorous, no doubt. >> gloves and boots. >> i'm hearing it's rather cold. >>> it is now 18 minutes after the hour, time to get an early read on your news making national headlines this from the new york daily news as it revisits the story of katie beers. 20 years as a girl she was kidnapped and held for two weeks in
. >>> a northern california man facing a $14,000 property tax bill, paid his tab in rolls of coin. stacks of dollar bills. larry casper said he tried to pay half his bill weeks ago but the county would only accept payment in full. so he asked family to empty out their piggie banks. every year at this time, this becomes the park city, utah sundance film festival. sundance traditionally a mecca for independent films. some 50,000 people expected to descend on the town over the next ten...
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Jan 14, 2013
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interview with david gregory, i talked about health care for the nation, climate change, redistributive tax policies -- these are things that republicans oppose on principle, and he did that, though, which makes it worse, in a conversation, and there was a subtle link to this issue of race. it makes republicans look like they don't oppose president obama for all these principle or policy reasons that were just brought up, but rather because he's black, and that's what is really, really disturbing and destructive, that we have a serious disagreement with policy and principles, not because of who the president is or what his race is. >> l.z., response? >> you see what i mean, carol? that's a perfect example of what i talked about earlier. there are racist facets of republican party. when you look at comments made by republican john sununu, how could you not see the hint of racism in his voice when he talks about the president? are there disagreement when's it comes to policy? absolutely. let's remember the republican party actually was the party that gave us the epa. the republican party gave
interview with david gregory, i talked about health care for the nation, climate change, redistributive tax policies -- these are things that republicans oppose on principle, and he did that, though, which makes it worse, in a conversation, and there was a subtle link to this issue of race. it makes republicans look like they don't oppose president obama for all these principle or policy reasons that were just brought up, but rather because he's black, and that's what is really, really...
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Jan 21, 2013
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tax efficient and low cost building blocks to help you keep more of what you earn. call your advisor. visit ishares.com. ishares. yeah, ishares. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. go, go, go, go! bye sweetie. honey what are you doing? we gotta go! it's dress-like-a-president day, i'm supposed to be martin van buren. who? martin van buren! google? martin van buren. ♪ [ female announcer ] new roc® retinol correxion max. the power of roc® retinol is intensified with a serum. it's proven to be 4x better at smoothing lines and deep wrinkles than professional treatments. roc® max for maximum results. >>> welcome back to our continued coverage of the presidential inauguration. while president obama and the vice president and their families are eating lunch inside the capitol, most folks are heading over to the parade grounds. let's check in with erin burnett who is standing over at freedom plaza. erin, how are the crowds where you
tax efficient and low cost building blocks to help you keep more of what you earn. call your advisor. visit ishares.com. ishares. yeah, ishares. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. go, go, go, go! bye sweetie. honey what are you doing? we gotta go! it's dress-like-a-president day, i'm supposed to be martin van buren. who? martin van buren! google? martin van...
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as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that would reduce -- >> a significant portion does come from tax increases. >> a third. >> you have a statement about federal-billion pay freeze. i find this to be terribly disingenuous. when barack obama took office to now, we have 145,000 additional federal workers. to suggest pay has been frozen is not an accurate statement. their increases and bonuses and others, we've dramatically increased the federal payroll. the budget being proposed, when you say pay freeze, does that mean expenditures on payroll will go up or stay the same? >> it means people are not going to get a cost-of-living adjustment right now. >> the line item for going forward -- the total, will that go up or be sustained? we will obviously have to pay the people who are hiring. for an individual federal worker -- they'll
as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that would reduce -- >> a significant portion does come from tax increases. >> a third. >> you have a statement about federal-billion pay freeze. i find this to be terribly disingenuous. when barack obama...
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where do you see the tax break going this year? >> may be nowhere. $450,000 is not middle-class in most people's minds. they're going to have a tough fight. regular order has not been it would have done things anyway. regular order, -- is not the way that they have done things and do it. but it has taken to get anything done is these deadlines. -- what it has taken to get anything done is these headlines. headlines.
where do you see the tax break going this year? >> may be nowhere. $450,000 is not middle-class in most people's minds. they're going to have a tough fight. regular order has not been it would have done things anyway. regular order, -- is not the way that they have done things and do it. but it has taken to get anything done is these deadlines. -- what it has taken to get anything done is these headlines. headlines.
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we have begun to reduce our deficit through a balanced mix of spending cuts and reforms to a tax code that at the time when we both came in was skewed in favor of the wealthy at the expense of middle class americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, he has been a wonderful friend and dependable advisor the out these last four years. there is an unofficial thing at treasury -- no peacocks commager, no winners. that would be a good saying for all of washington. few embody that ideal better than tim geithner. that is why when he was thinking about leaving a couple of years ago, i had to personally get on my knees with carol to help convince him to stay on a little bit longer. i could not be more grateful to carol and the entire family for letting him make
we have begun to reduce our deficit through a balanced mix of spending cuts and reforms to a tax code that at the time when we both came in was skewed in favor of the wealthy at the expense of middle class americans. when the history books are written, tim geithner is going to go down as one of our finest secretaries of the treasury. [applause] don't embarrass him. [laughter] on a personal note, he has been a wonderful friend and dependable advisor the out these last four years. there is an...
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i talked about taxes. we need to talk about issues like potency and consumer protection, what to do about young people. all these specifics are the product of a debate that's going on with the governor's task force a lot of good people from different parties. we can wait for the feds or stand up and do what we do which is run of our lives and we're going to do as much of it as we possibly can and we'll see what happens with that but states and federalism really could gain. federal law enforcement, my friends i serve with you. you win. you absolutely win. you're more important than ever because regardless of how this marijuana discussion goes, we have tremendous drug issues that will come with it. there will be a black market. my friends from the d.e.a. are going to have to take on that challenge as they do so effectively today not just here but aren't the world. look at mexico, they're having a discussion on marijuana decriminalization much less popular in polls in mexico than it is in the united states bu
i talked about taxes. we need to talk about issues like potency and consumer protection, what to do about young people. all these specifics are the product of a debate that's going on with the governor's task force a lot of good people from different parties. we can wait for the feds or stand up and do what we do which is run of our lives and we're going to do as much of it as we possibly can and we'll see what happens with that but states and federalism really could gain. federal law...
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Jan 18, 2013
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type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across the board as far as taxes go. host: thanks for the call. we welcome our listeners and our focus this morning the role of government in solving america's problems. it was something that dwight eisenhower talked about in his fair well address 52 years ago this week. from our twitter page there is this from one of our viewers -- rick is joining us from maryland democrats line. good morning. caller: good morning. i think the government should be a part of our life, because without the government all these millionair
type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across...
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Jan 16, 2013
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the president ran on raising taxes on the upper class. he raised taxes on 77% of us. where are the spending cuts? guest: the president laid out in his press conference there have been $1.5 trillion in terms of spending cuts and caps on appropriation bills. those caps have been adhered to. it is a myth we have not had spending cuts. are we going to hit health care? i feel deeply in terms of research. a quick story. my wife ran a group at nih. when she started, there would have for peer review 100 applications. maybe 50 of them were topflight and there were reviewed by peer review. out of that they might pick 25 that should be funded. in those days, there was enough money of the top caliber to fund may be 10, 15. wo, or it is one, tow, o three of the original 100. there is not adequate funding for our health. are we going to further cut funding for nih for health research in this country? we need to retrain americans so they can qualify for every kind of job. we have a trainee deficit in this country. we need to do a better job. are we going to hurt that effort? that is
the president ran on raising taxes on the upper class. he raised taxes on 77% of us. where are the spending cuts? guest: the president laid out in his press conference there have been $1.5 trillion in terms of spending cuts and caps on appropriation bills. those caps have been adhered to. it is a myth we have not had spending cuts. are we going to hit health care? i feel deeply in terms of research. a quick story. my wife ran a group at nih. when she started, there would have for peer review...
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but the epa taxes in the industry. that is costing us millions of dollars to provide revenue for the government because we do not use a fuel that is nicest. that is a problem. bad public policy, they will be working about that. we have talked about it earlier. we are looking closely at fuel approaches. to date we have not seen any of the certificates and of the proposals. they have put them off for the time being. it will continue to put them often to other it's as if it is for them. we will have a longer list we think it through. i sent this to have a locker list. >> will spend well over $100 million on advertising and promoting its public and and. happy but this did the change of it to with the iraqi smart what how is your take on that after the adjustment? >> a couple of answers to that. we are very pleased with our success to date and the ongoing are rich of successful people with the american people. congress is so lacking in decatur. with response to those who elected us and -- the key is to help the american pub
but the epa taxes in the industry. that is costing us millions of dollars to provide revenue for the government because we do not use a fuel that is nicest. that is a problem. bad public policy, they will be working about that. we have talked about it earlier. we are looking closely at fuel approaches. to date we have not seen any of the certificates and of the proposals. they have put them off for the time being. it will continue to put them often to other it's as if it is for them. we will...
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Jan 19, 2013
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tax increases and spending cuts to that size, the cbo and others estimated that unemployment would rise and we very well might go back into a recession. so the challenge is to achieve long run sustainability without unduly hampering the recovery which we have. the deal that was struck, together with the previous work in 2011 that involved some spending cuts made some progress in both of these goals. on longer and sustainability, over the next decade or so, we have seen some movement toward stability in terms of the debt to gdp ratio. more work can be done, for sure. and then, on the short run, the fiscal cliff deal on new year's eliminated a good bit of the components of the fiscal policy that would have had such bad effects. not completely, but it was a good start. so there was a bit of progress on both of these goals. but i should hasten to say that we are not out of the woods because we are approaching a number of other fiscal critical watersheds coming up. we have the funding of the government, the so-called sequester, number of spending cuts that were laid as part of the fiscal cli
tax increases and spending cuts to that size, the cbo and others estimated that unemployment would rise and we very well might go back into a recession. so the challenge is to achieve long run sustainability without unduly hampering the recovery which we have. the deal that was struck, together with the previous work in 2011 that involved some spending cuts made some progress in both of these goals. on longer and sustainability, over the next decade or so, we have seen some movement toward...
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more from the fuel tax than the sales tax. our concept is to replace the 18.4 cents. for gas, it would be an 8.4 cent increase -- not increase, 8.4 cents rate on gasoline and 10.6% rate for diesel and we have set the rate at a point where it sustains the solvency of the highway trust fund. we are currently spending $15 billion more from the highway trust fund than receive news coming in and that's not sustainable. we are hearing conservative republicans in the house don't like to transfer money from the general fund to the highway trust fund. we are thinking what would they like better. and maybe if we have a system where we go back to the system that has been the case in transportation for 50 years where highway users pay their own way, sustain the solvency of the trust fund. here's the chart. we are talking about bringing in $52 billion rather than $37 billion the first year and then seeing it increase over time. so the consequence of this program is if you look at three different figures, what will it take to sustain highwa
more from the fuel tax than the sales tax. our concept is to replace the 18.4 cents. for gas, it would be an 8.4 cent increase -- not increase, 8.4 cents rate on gasoline and 10.6% rate for diesel and we have set the rate at a point where it sustains the solvency of the highway trust fund. we are currently spending $15 billion more from the highway trust fund than receive news coming in and that's not sustainable. we are hearing conservative republicans in the house don't like to transfer money...
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raise taxes or cut spending and congress has only raised taxes. if we don't do something about the tax code, we will continue to print money. host: kevin from woodbridge, virginia. caller: i have a bill with a to balance.$200 if i miss my payments, they will call me. how many follicles do the government debt saying, "when are you going to repay my money -- how many phone calls does the government get saying, "when are you going to repay my money?" we are a bunch of idiots that what our government do whatever they wanted. guest: not enough people are calling their representatives and senators about the debt ceiling and the way we've handled the last 12 months. what you have to do is call your congressman or senator. someone will answer and be polite to you. you have to insist to get the message through. elections have consequences. the division right now is very extreme. are we being played? politicians will wait until the last second until they do what is the right thing. i expect to happen this time is we will get around that during 26th or 27th
raise taxes or cut spending and congress has only raised taxes. if we don't do something about the tax code, we will continue to print money. host: kevin from woodbridge, virginia. caller: i have a bill with a to balance.$200 if i miss my payments, they will call me. how many follicles do the government debt saying, "when are you going to repay my money -- how many phone calls does the government get saying, "when are you going to repay my money?" we are a bunch of idiots that...
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and that is taxes. we have had that fight and he has won and he got his tax increase and that will raise between $60 billion and $70 billion. but the last deficit was $1.1 trillion. mr. president, what about the other $1 trillion now? what do we do now? we have a 6% solution. it's a great start, if you like raising taxes. but it doesn't address the problems at all. my father was an air force pilot. he was a pilot during world war ii. i had the great honor of serving for 14 years as an air force pilot as well and if there's one thing i learned from my father and those brave women and men that i served with, it is courage. always to have courage. that is what we need now. that is the only thing that can save us. mr. president, members of this body, let us have the courage to do the right thing, even if that thing proves to be hard. our debt is unsustainable. we talk about saving our nation for our children or our grandchildren, we don't have that long. let us take this step -- the steps to restore financi
and that is taxes. we have had that fight and he has won and he got his tax increase and that will raise between $60 billion and $70 billion. but the last deficit was $1.1 trillion. mr. president, what about the other $1 trillion now? what do we do now? we have a 6% solution. it's a great start, if you like raising taxes. but it doesn't address the problems at all. my father was an air force pilot. he was a pilot during world war ii. i had the great honor of serving for 14 years as an air force...
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tax rolls. barbara taxes, business licensees, -- property taxes, business licensees. abortion or the unemployment rate decrease down to 7.4%. -- we have seen our unemployment rate decreased down to 7.4%. a great focus on regionalism. host: with so much talk about the debt and deficit, cities often do that by floating bonds. explain how that works in mesa, arizona. guest: we do not go into debt to cover deficits. mostwe get our fiscal cliff literally three and four years ago. we had to figure it out on a cash basis counterbalance our budget. westreets, police stations, mainly some work, water, those kinds of things. these are financed with tax- exempt invisible bonds. hundreds of billions, if not trillions of dollars. one of the proposals that does not seem to want to die is to somehow tinker or eliminate the tax-exempt status of municipal bonds. this is extremely important to us. you are talking about the basic financing infrastructure itself of cities and states. that is huge. mesa is not a hea
tax rolls. barbara taxes, business licensees, -- property taxes, business licensees. abortion or the unemployment rate decrease down to 7.4%. -- we have seen our unemployment rate decreased down to 7.4%. a great focus on regionalism. host: with so much talk about the debt and deficit, cities often do that by floating bonds. explain how that works in mesa, arizona. guest: we do not go into debt to cover deficits. mostwe get our fiscal cliff literally three and four years ago. we had to figure it...